Kontoor Brands Inc (KTB) just unveiled an announcement.
Christopher M. Waldeck has transitioned from his executive role at Kontoor Brands to a non-executive capacity until July 12, 2024, to facilitate a smooth handover of duties. He has negotiated a separation agreement that grants him $1.125 million, equivalent to 18 months of his salary, alongside eligibility for a prorated annual incentive and vested stock units. Additionally, Waldeck will receive continued health benefits at a reduced cost, financial counseling, executive health exams, and outplacement assistance for 18 months post-separation. The agreement also includes non-disclosure and non-compete clauses.
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